March 25, 2020 / 9:52 PM / 12 days ago

Liberia's Conex says it has agreed to buy Total's Liberia, Sierra Leone businesses

MONROVIA, March 25 (Reuters) - Liberia’s Conex Oil and Gas Holdings on Wednesday said it had signed a deal to acquire the Liberian and Sierra Leonean fuel businesses of France’s Total .

Conex did not provide further details of the agreement with Total, the largest fuel importer in Liberia. Gasoline shortages this year have brought much of the country to a standstill, raising prices for transport and basic goods and stoking anger against the authorities at a time of economic stagnation.

Earlier on Wednesday, Total declined to comment when asked if it planned to leave the Liberian retail fuel market.

It is unclear how the agreement might impact Liberia in the short term. In recent days, the authorities have issued conflicting statements on the status of gasoline reserves.

Total started operating in Liberia in 2005 and runs around 30 service stations in the West African country.

Reporting by Lucinda Rouse Additional reporting by Bate Felix in Paris Writing by Alessandra Prentice Editing by Rosalba O'Brien

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